Spire Inc (SR) Fair Value & Analysis
Utilities · US · Market cap $4.8B
Spire Inc
SR · US
Fair value as of: Jul 19, 2026
From 15 valuation models · updated 21 days ago
Share price +2.7% over the past month.
Below-average quality, and screening another 19% overvalued on our models.
What matters now
- Weak quality (37/100) and above fair value at the same time, the margin of safety is missing on both counts.
- Our model range runs from $49.04 (bear) to $86.40 (bull), base $66.46. The closer the price sits to the lower half, the larger the margin of safety.
- Quality 37/100 (below-average quality) with high evidence: the data supports the verdict.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 19, 2026.
How to read this chart
60‑month range $48.54 – $94.21 · fair‑value band $49.04 – $86.40 · the $81.97 price screens above the $66.46 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 19, 2026.
Analysis
Spire Inc (SR) currently trades at $81.97, while our model-based Fair Value estimate is $66.46, implying the stock looks roughly 18.9% overvalued today. The Quality Score stands at 37/100 (below-average quality), in the Utilities sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Spire Inc generated revenue of $2.6B at a net margin of 13.8%. Revenue grew 4.5% year over year. It earns a return on equity of 9.1%. Net debt stands at $5.2B. Fundamentals as of Jul 19, 2026
Our scenario range runs from $49.04 (bear case) to $86.40 (bull case); at $81.97, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 14% below its 52-week high and 19% above its 52-week low, currently below its 200-day average. For context, the median of 10 Utilities peers we cover trades at -19% fair-value upside, at -19%, SR screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 15 models by family
Widest divergence: Multiples ($78.13) versus Earnings-Based ($25.76). Highest evidence: Residual Income (76).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 19, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 37 · Market factors (momentum, volatility) 59
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Spire Inc., together with its subsidiaries, engages in the purchase, retail distribution, and sale of natural gas to residential, commercial, industrial, and other end-users of natural gas in the United States. The company operates through three segments: Gas Utility, Gas Marketing, and Midstream.
Full company description
Spire Inc., together with its subsidiaries, engages in the purchase, retail distribution, and sale of natural gas to residential, commercial, industrial, and other end-users of natural gas in the United States. The company operates through three segments: Gas Utility, Gas Marketing, and Midstream. It is also involved in the marketing of natural gas and related services; and transportation and storage of natural gas. In addition, the company engages in the operation of propane through its propane pipeline, risk management, and other activities. Spire Inc. was formerly known as The Laclede Group, Inc. and changed its name to Spire Inc. in April 2016. Spire Inc. was founded in 1857 and is based in Saint Louis, Missouri.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Spire Inc reported revenue of $2.5B in FY2025 versus $2.2B in FY2021, a compound +2.6%/yr. Reported net income was $272M in FY2025, compounding +0.0%/yr from FY2021.
SR screens 19% overvalued. Compare with Naturgy Energy Group →
Recent news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Spire Inc. Q3 2026 Earnings Call Summary
- Spire Inc (SR) (Q3 2026) Earnings Call Highlights: Strategic Divestitures and Regulatory ...
- Spire reaffirms 5% to 7% long-term adjusted EPS growth target backed by $11.2B 10-year capital plan
- Spire's Q3 Loss Wider Than Estimates, Revenues Decrease Y/Y
Peer Group
Utilities - Regulated Gas · 104 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Utilities - Regulated Gas median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Insider activity: 25/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Utilities - Regulated Gas stocks, each showing price versus our Fair Value estimate (as of Jul 19, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Naturgy Energy Group NTGY | €28.84 | €35.80 | +24% |
| Atmos Energy Corporation ATO | $177.68 | $85.67 | -52% |
| NiSource Inc NI | $47.07 | $28.59 | -39% |
| Uniper SE UN0 | €42.80 | €49.13 | +15% |
| The Hong Kong and China Gas Company 0003 | HK$7.03 | HK$5.08 | -28% |
| Italgas S.p.A IG | €9.98 | €8.11 | -19% |
| GAIL (India) Limited GAIL | ₹171.71 | ₹147.74 | -14% |
| Adani Total Gas Limited ATGL | ₹723.90 | ₹101.36 | -86% |
| ENN Natural Gas Co 600803 | ¥17.30 | ¥25.71 | +49% |
| UGI Corporation UGI | $35.84 | $27.13 | -24% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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